New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-12
CLOSING Prices or Bosrov srooEA
Boston, Jan. IL. 1887
TUESDAY. Jan. LII. n

TurspAY Jan. III. n
Tho stock speculation to-day was dull and after an
hours frmness with some improvements IN prices was
dropping. Tho Interstate Commerce bill 10 tho Dug
bear OF the market Senator Cuom In bis speech yose
day in the Senate advocating the acceptance OF the BILL
paid special attention to definition Of tho intent and
purpose Of t fourth section relating to long and short
haul He said. This section 1t now stands simply
prohibits railroad corporation from charging greater
aggregate eum-not q higher rate-for o enofVer
than for o longer distance over the same line, In
the same direction and under substantially similar
circumstances and conditions, when the short
er Is included within the longer distance"
He then explained the limitations TO the prohibition 10
the charging Of higher aggregate for short than long
haul as follows: The Limitations placed upon the pro
hibton that Is made very Significant and they must
not be overlooked They require that In determining the
sum that may he charged for a shorter as compared
with longer distance the requirement must be maze
First, between shipments OF like KIND OF properly
second under substantially similar circumstances ana
conditions third. over the same lines fourth In the
same direction fh when the shorter Is included VIII
In the longer distance when the act IL to be arpeh In
any given 10 the charge that may Dc made
for any distance compared with the longer distance
all the limitations taken into account and they
must all apply 10 the not three or four OF the puo
all Of them" This explanation states combination OF
five separate and distinct conditions all OF which must
be present TO render effective the clause In the Dill
relating long and short hauls Probably those nve
conditions never we're combined and never Will be- 10
make the explanation more emphatic Mr. Cullom ADDS |;
"As understand the words, circumstances and cond
tons the conditions that govern railway rac ana
the circumstances under which Is transported 10 my
mind these words are full OF meaning They comprehend
all the circumstances and conditions that may JUSTIFY
differences In rates such competition with other rail-
roads and water routes volume and character OF Ds
ness at different points, the difference in terminal ex-
penses and the cost OF service In each case" BY many
persons Mr. Cuoms explanation regarded as prognos
ticating defeat the bill in the House of Representa-
tves even II It passes the Senate 1t not believed
that the radicals OF tho House Will accept
so harmless a measure as Mr.. Cullom describes
the present bill to be- Nevertheless the agitation OF the
subject is an immediate factor with both spectators and
investors In railway securities. Speculative operations
are poned and investments delayed because OF
questions OF what may be tho m0mentary effects upon
values II the bill should become law. NO
one believes that Democratic Congress
and Executive can permanently retard the growth and
prosperity of the country but 1t IL well understood that
aided by Wall street Spectators speculative values may
be temporarily affected.
Today's market very dull and few stocks
recorded transactions to the amount OF 10000
sharcs Reading led In the amount Of shares dealt
ia and declined from 39lsa39h To 3sd3sh. and Rich
mond Terminal. which second In number OF shares
dealt n declined from Al To i02 1884, and Central OF
New-Jersey closed lower at 81 4. The general market
declined from OF the day. but the average
closing prices arr something better than yesterdays final
prices The results OF the day III prices were male Dy en-
largng the beforcc Nisng short Interest Real socEs
were "A. they The market closed di
tjoycrnmcn nj bonds were duh and easy. with the bids
for the and the nominal asking prices Tor the ~
reduced u per cent Annexed arc the closing quota
tons: